Plating on Plastics Market size to surpass $1.2 Bn by 2032

Plating on Plastics Market size is projected to be valued at over USD 1.2 billion by the end of 2032, according to a recent research report announced by Global Market Insights Inc.
 

The OEMs and tier-1 component suppliers in the automotive manufacturing sector are taking initiatives to lighten vehicles by utilizing materials such as carbon fiber, plastic, composites, aluminum foam, and special steel to increase fuel efficiency and the overall performance of the vehicles. In 2020, China produced around 29 million units in its automobile industry. Such favorable outlook for the Asia Pacific automotive sector is likely to promote the plating on plastics business growth owing to various characteristics such as aesthetic appeal and corrosion-resistant qualities, through the estimated timeframe.
 

Increasing use of nickel plating in the automotive sector to favor segment demand

By finish type, nickel segment of the plating on plastics market is projected to exhibit a 7% CAGR from 2023 to 2032. The nickel finish on plastic products offers benefits such as a shiny bright appearance, and high resistance to heat, corrosion, and friction wear. The combined use of tungsten and tin in nickel-based plating on plastic, which increases hardness and resistance and facilitates its use across the automotive sector, is projected to be the major driver to propel the product demand during the forecast timeline.
 

Burgeoning demand for packaged food and beverages to fuel PET plastic segment share

In terms of plastic, plating on plastics market by the PET segment is estimated to generate more than USD 10 million by the end of 2032. PET is a strong, lightweight, and transparent plastic, which makes it ideal for producing packaging products used in the food and beverage industries. As per the report, the increasing demand for food and beverage products is expected to drive segment growth throughout the projected period.
 

Browse key industry insights spread across 292 pages with 273 market data tables and 42 figures & charts from the report “Plating on Plastics Market Size by Finish Type (Copper, Nickel, Chromium, Others), By Plastic (ABS, Polycarbonate (PC), PC/ABS, PEI-Ultem, PET, PBT, LCP, PEEK, PP, Nylon, Others), By Application (Automotive, Domestic Fittings, Electronics & Electrical, Others), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/plating-on-plastics-pop-market
 

Growing use of electronic components in the automotive and aerospace industry to foster segment expansion

Based on application, electronics & electrical segment is expected to record significant growth at over 6.5% CAGR through 2032. Plating on plastics market is expected to benefit from growing demand for electronic components from sectors including automotive and aerospace, over the projected period. Additionally, as telecommunications and remote work become the norm, the ongoing demand for consumer devices like smartphones, PCs, laptops, and televisions is likely to impact the segment revenue growth.
 

Developing the automotive industry to propel Europe's market share

Europe plating on plastics market is slated to surpass USD 485 million by the end of 2032. Product demand is being driven by the developing automobile industry, as well as the inclination toward luxury looks and comfort in the automotive sector. Furthermore, rising investments and novel technologies, as well as the presence of several major automotive manufacturers across the region, are expected to boost regional market revenue from 2023 to 2032.
 

Innovative product launches to define the market outlook

Plating on plastics industry includes companies such as Atotech Limited, Uyemura & Co., Artcraft Plating & Finishing, Bolta Werke GmbH, Cybershield, Inc, C. Ltd., and Dix line Corporation, amongst others. To expand their worldwide reach, businesses are employing new technologies for creative product launches.